TDS LIMITS FOR RENT OF COMMERCIAL BUILDINGS
javeed mulla (198 Points)
27 September 2020
How much the TDS Rate and limit in FY 19-20 for rent on commercial building
4 Replies
Shreya Bafna
(200 Points)
Replied 27 September 2020
Section 194 I is applicable if the rent crosses Rs. 180,000 ( for joint property it is Rs. 180,000 to each party).
Rent of Land, building or furniture- 10%
If PAN is not quoted by the deductee then 20%
Rent of Land, building or furniture- 10%
If PAN is not quoted by the deductee then 20%
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 27 September 2020
194-I the Monetary limit enhanced to Rs. 2,40,000/- from Rs. 1,80,000/- from F.Y 2019-20. Accordingly, if the Rent Payment does not exceed Rs. 2,40,000/- in a financial year, deductor is not require to deduct the TDS.
So, Limit 2,40,000( TDS if rent above limit)
Rate @ 10 %
So, Limit 2,40,000( TDS if rent above limit)
Rate @ 10 %
Shreya Bafna
(200 Points)
Replied 27 September 2020
Yes correct for FY 19-20 onwards it is 2,40,000/-
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 27 September 2020
Now, the TDS rate is 7.5% (14/05/20 to 31/03/21)
Recent Topics
- Gst rate on construction service on own land
- Form-16 in Excel Format for Asst Year 2025-26
- Https://www.facebook.com/alphalabstestosteroneboos
- Money received in inheritance
- Huf property transfer
- Rent Paid By company but GSTR 3B Return Reverse Ch
- F&O Loss carry forward and set off under the n
- SOLAR PLANT POWER
- Regarding chit broker commission gst
- Gst on security service provided by a pvt ltd co.
Related Threads
CAclubindia
